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, corruption scandals, and disastrous investments in the u.s. and brazil. it was hoping to benefit from lower production costs at the new steel plant near rio de janeiro. the costs to build the facility have spiraled out of control. billions of euros wasted. it is a similar picture in the u.s. where a costly steel plant is incurring heavy losses due to the steel downturn. investment decisions have weighed heavily with building costs rising to 12 billion euro. to make matters worse, they have been hit with huge funds in their real division. this has triggered a leadership crisis. the executive board has asked three top executives to leave. >> until now, there has been in management style where the old boys' network was more important than corporate success. to some extent, this led to ignoring irregularities rather than correcting them. >> despite the crisis, he is trying to reverse the fortunes. they plan to sell the troubled plants in the u.s. and reduce their presence in the risky steel sector. they are examining all options. >> for more rainiers on the reaction from traders, we have this r
, but opponents say they intend to continue their protests. >> turning out to the u.s., president barack obama has just announced his nomination of senator john kerry to become secretary of state. >> john kerry is currently chairman of the senate foreign relations committee and has undertaken numerous diplomatic missions. he also ran unsuccessfully for president back in 2004. the move has been widely expected. observers say he should win easy confirmation in the senate. staying in washington, and president obama is increasing the pressure on the country's powerful gun lobby's and calling for stricter regulations on assault weapons. he has also challenged his fellow gun control advocates to take a clear stand on the issue. >> america had a moment of silence for the victims of the newtown massacre. exactly one week ago, a young man armed with a semiautomatic rifle gunned down 20 people in connecticut. meanwhile, the national rifle association has taken a hard- line stance on the issue, calling for armed security guards in every american school to protect students. >> the gun owner's organization has
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